A business commercialisation programme aiming to help innovative companies using artificial intelligence (AI) has announced its new 2022/23 cohort.
The AI Accelerator, delivered by the Bayes Centre at the University of Edinburgh, has selected a group of emerging companies from Scotland, the UK and other parts of the globe.
Among the 12 cohorts are EtiqAI, a female-founded company whose technology is designed to increase transparency and minimise unintended bias within algorithms; Edinburgh-headquartered Vahanomy, which is driving the roll-out of electric vehicle charging infrastructure; and US start up MindTrace, which uses AI and imaging to enhance positive outcomes in brain surgery.
The AI Accelerator has helped previous cohort companies attract more than £10m in grants and investment over the last year.
The programme will be delivered both digitally and in-person by the Bayes Centre and Edinburgh Innovations, the university’s commercialisation service, on behalf of its Data-Driven Innovation Hubs.
To qualify, participating companies must use AI for wider societal benefit to deliver solutions in core areas such as health and wellbeing, social care and environmental stewardship.
Participants get a package of support focused on building connections, as well as from leadership mentoring and support with product development.
Previous programme participants have included Oxford-based iLoF, which raised more than £4m for its AI-driven drug discovery and development technology over the summer, and Roslin-based medtech firm Carcinotech, which secured £1.6m investment to accelerate its commercialisation and expansion plans.
The AI Accelerator, partnered by global strategic design consultancy NileHQ, is also supported by Huawei UK and the University of Edinburgh’s Edinburgh Earth Initiative.
This year’s AI Accelerator programme also welcomes John Brodie to the role of entrepreneur in residence.
He was founder of data analytics consultancy Aquila Insight, which grew into a more than 200 employee company, which was then sold in 2017. Brodie is now an advisor and investor within the Scottish start-up community.
Charlotte Waugh, enterprise and innovation programme lead at Edinburgh Innovations, said: “As we have seen from the progress of many past participants, the programme has a successful track record in helping companies using AI for good to scale their business and make them investable so they can achieve their maximum potential.”
The 12 new cohort companies are:
- Beringar
- Danu Robotics
- EasyRice
- EtiqAI
- Inicio
- Mekal Health
- Microplate DX
- MindTrace
- NeuralSpace
- REOptimize
- Smplicare
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